Ofer Eitan Reviews: Commercial office space and residential dwelling for sale - Dr. Jonathan Cartu Dentist & Orthodontist Care - Dental Clinic
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Ofer Eitan Reviews: Commercial office space and residential dwelling for sale

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Ofer Eitan Reviews: Commercial office space and residential dwelling for sale


High profile mixed-use commercial office space
and
residential dwelling placed on the market for sale


House
frontal

A
high profile mixed-use property comprising a standalone
suburban commercial office suite and an adjoining
residential dwelling has been placed on market for
sale.

The property at 2 Wilding Avenue on the corner of
Kennedy Road in the Napier suburb of Marewa features a
22-square metre office building, and an adjacent
four-bedroom home sitting on some 778-square metres of flat
land.

With its own separate entrance off Wilding Avenue,
the property’s commercial unit previously housed footcare
clinic Marewa Podiatry and consists of a reception area,
central workspace, kitchenette and bathroom amenities. It is
now leased as commercial office space.

The now vacant
commercial space generates annual net income of $23,400 plus
GST per annum. Meanwhile the residential dwelling is let on
a separate tenancy for $27,560 per annum.

Now the freehold
land and buildings at 2 Wilding Avenue are being marketed
for sale at auction on June 26 through Bayleys Napier.
Salesperson Mark Evans said the commercial portion of the
property was leased to the administrative offices of a
childcare operator through until April 2021, while the
occupants in the home were on a fixed term tenancy running
through to early next year.

“The permutations for future
uses of the property are varied – consequently appealing
to a wide buyer pool motivated by different drivers,” Mr
Evans said.

“The property could be bought by a small
professional services business
owner-operator seeking a
continuation of its existing mixed-use format – underpinned
by both commercial and residential components.

“Alternatively, the property could be bought for
redevelopment, subject to council consenting, into a solely
commercial site to house a medium-sized professional
services entity in what is now the main dwelling. The
residential aspect of 2 Wilding Avenue has sealed off-street
parking for four vehicles.

“Such professional suite
style use is already evident in the immediate Marewa
neighbourhood – with healthcare service providers such as
Dementia Hawke’s Bay and Ocean Orthodontics operating from
converted residential premises. Interestingly, both those
companies are also on corner sites comparable to 2 Wilding
Avenue.

“Should this option be explored, the
installation of signage fronting the property’s 20 metre
border along the main arterial route of Kennedy Road would
be an obvious marketing component of a business tenancy,”
Mr Evans said.

“Or under a third alternative, 2 Wilding
Avenue could be bought purely as a residential property with
a view to utilising the office amenities as a teenager’s
sleepout or potentially as a short-let
accommodation.”

Mr Evans said the 1930s bungalow home
came with a double garage and was zoned Main Residential
under the Napier City Council plan, with the current use a
permitted
activity.

© Scoop Media

 

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